II 

114TH CONGRESS 

1ST SESSION S. 107 

To amend the Financial Stability Act of 2010 to repeal certain designation 

authority of the Financial Stability Oversight Council, to repeal the 

Payment, Clearing, and Settlement Supervision Act of 2010, and for 

other purposes. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 7, 2015 

Mr. VITTER introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To amend the Financial Stability Act of 2010 to repeal 

certain designation authority of the Financial Stability 

Oversight Council, to repeal the Payment, Clearing, and 

Settlement Supervision Act of 2010, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Terminating the Ex5 pansion of Too-Big-To-Fail Act of 2015’’. 


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1 SEC. 2. REPEAL OF DESIGNATION AUTHORITY UNDER THE 

2 FINANCIAL STABILITY ACT OF 2010 AND THE 

3 DODD-FRANK WALL STREET REFORM AND 

4 CONSUMER PROTECTION ACT. 

5 (a) FINANCIAL STABILITY ACT OF 2010.—The Fi6 nancial Stability Act of 2010 (12 U.S.C. 5311 et seq.) 

7 is amended— 

8 (1) in section 102 (12 U.S.C. 5311)— 

9 (A) in subsection (a)— 

10 (i) by striking paragraph (4); 

11 (ii) by redesignating paragraphs (5) 

12 through (7) as paragraphs (4) through (6), 

13 respectively; and 

14 (iii) by striking paragraph (6) (as re15 designated) and inserting the following: 

16 ‘‘(6) SIGNIFICANT BANK HOLDING COMPANY.— 

17 The term ‘significant bank holding company’ has the 

18 meanings given to it by rule of the Board of Gov19 ernors.’’; 

20 and 

21 (B) by striking subsection (c); 

22 (2) in section 112 (12 U.S.C. 5322)— 

23 (A) in subsection (a)— 

24 (i) in paragraph (1)(A), by striking 

25 ‘‘or nonbank financial companies’’; and 

26 (ii) in paragraph (2)— 


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1 (I) in subparagraph (A), by strik2 ing ‘‘and nonbank financial compa3 nies’’; 

4 (II) by striking subparagraphs 

5 (H) and (J); 

6 (III) by redesignating subpara7 graphs (I), (K), (L), (M), and (N) as 

8 subparagraphs (H), (I), (J), (K), and 

9 (L), respectively; 

10 (IV) in subparagraph (H) (as re11 designated), by striking ‘‘nonbank fi12 nancial companies and’’; 

13 (V) in subparagraph (I), as so re14 designated, by striking ‘‘, nonbank fi15 nancial companies,’’; and 

16 (VI) in subparagraph (L), as so 

17 redesignated— 

18 (aa) by striking clause (iv); 

19 and 

20 (bb) by redesignating 

21 clauses (v) and (vi) as clauses 

22 (iv) and (v), respectively; and 

23 (B) in subsection (d)— 

24 (i) in paragraph (3)— 


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1 (I) in subparagraph (A), by strik2 ing ‘‘nonbank financial company or’’ 

3 each place the term appears; 

4 (II) in subparagraph (B), by 

5 striking ‘‘nonbank financial company 

6 or’’; and 

7 (III) in subparagraph (C), by 

8 striking ‘‘foreign nonbank financial 

9 company or’’; 

10 (ii) by striking paragraph (4); and 

11 (iii) by redesignating paragraph (5) as 

12 paragraph (4); 

13 (3) by striking sections 113 (12 U.S.C. 5323), 

14 114 (12 U.S.C. 5324), 161 (12 U.S.C. 5361), 162 

15 (12 U.S.C. 5362), 164 (12 U.S.C. 5364), 167 (12 

16 U.S.C. 5367), and 170 (12 U.S.C. 5370); 

17 (4) in section 115 (12 U.S.C. 5325)— 

18 (A) in the section heading, by striking 

19 ‘‘NONBANK FINANCIAL COMPANIES SUPER20 VISED BY THE BOARD OF GOVERNORS

21 AND’’; 

22 (B) in subsection (a)(1)— 

23 (i) by striking ‘‘nonbank financial 

24 companies supervised by the Board of Gov25 ernors and’’; and 


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1 (ii) in subparagraph (A), by striking 

2 ‘‘nonbank financial companies and’’; 

3 (C) in subsection (b)— 

4 (i) in paragraph (2)— 

5 (I) in the paragraph heading, by 

6 striking ‘‘FINANCIAL COMPANIES’’ and 

7 inserting ‘‘BANK HOLDING COMPA8 NIES’’; 

9 (II) by striking ‘‘foreign nonbank 

10 financial companies supervised by the 

11 Board of Governors or’’; and 

12 (III) in subparagraph (B), by 

13 striking ‘‘foreign nonbank financial 

14 company or’’; and 

15 (ii) in paragraph (3)— 

16 (I) in subparagraph (A)— 

17 (aa) by striking ‘‘nonbank 

18 financial companies supervised by 

19 the Board of Governors and’’; 

20 and 

21 (bb) in clause (i), by insert22 ing ‘‘(as in effect on the day be23 fore the date of the enactment of 

24 the Terminating the Expansion 


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1 of Too-Big-To-Fail Act of 2015)’’ 

2 before the semicolon; and 

3 (II) in subparagraph (B), by in4 serting ‘‘(as in effect on the day be5 fore the date of the enactment of the 

6 Terminating the Expansion of Too7 Big-To-Fail Act of 2015)’’ after ‘‘sec8 tion 113’’; 

9 (D) in subsection (c)— 

10 (i) in paragraph (1), by striking 

11 ‘‘nonbank financial companies supervised 

12 by the Board of Governors and’’; and 

13 (ii) in paragraph (3)— 

14 (I) in subparagraph (A), by strik15 ing ‘‘any nonbank financial company 

16 supervised by the Board of Governors 

17 and’’; and 

18 (II) in subparagraph (B)(iii), by 

19 striking ‘‘a nonbank financial com20 pany supervised by the Board of Gov21 ernors or’’; 

22 (E) in subsection (d)— 

23 (i) in paragraph (1), by striking ‘‘each 

24 nonbank financial company supervised by 

25 the Board of Governors and’’; and 


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1 (ii) in paragraph (2)— 

2 (I) by striking ‘‘nonbank finan3 cial company supervised by the Board 

4 of Governors and’’; and 

5 (II) by striking ‘‘significant 

6 nonbank financial companies and’’ 

7 each place the term appears; 

8 (F) in subsection (e), by striking ‘‘nonbank 

9 financial companies supervised by the Board of 

10 Governors or’’; 

11 (G) in subsection (f), by striking ‘‘and by 

12 nonbank financial companies supervised by the 

13 Board of Governors’’; and 

14 (H) in subsection (g), by striking ‘‘, 

15 nonbank financial companies supervised by the 

16 Board of Governors,’’; 

17 (5) in section 116 (12 U.S.C. 5326)— 

18 (A) in subsection (a), by striking ‘‘or a 

19 nonbank financial company supervised by the 

20 Board of Governors’’; and 

21 (B) in subsection (b)— 

22 (i) in paragraph (1)(A), by striking ‘‘, 

23 nonbank financial company supervised by 

24 the Board of Governors,’’; and 


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1 (ii) in paragraph (2), by striking ‘‘and 

2 nonbank financial company supervised by 

3 the Board of Governors’’; 

4 (6) in section 117 (12 U.S.C. 5327)— 

5 (A) in subsection (b), by striking ‘‘such en6 tity shall be treated as a nonbank financial 

7 company supervised by the Board of Governors, 

8 as if the Council had made a determination 

9 under section 113 with respect to that entity’’ 

10 and inserting ‘‘for purposes of this title, such 

11 entity shall be treated as a bank holding com12 pany with total consolidated assets of 

13 $50,000,000,000’’; and 

14 (B) in subsection (c)— 

15 (i) in paragraph (1), by striking ‘‘a 

16 nonbank financial company supervised by 

17 the Board of Governors’’ and inserting ‘‘a 

18 bank holding company with total consoli19 dated assets of $50,000,000,000’’; and 

20 (ii) in paragraph (2), by striking sub21 paragraph (C); 

22 (7) in section 119(a)(1) (12 U.S.C. 

23 5329(a)(1)), by striking ‘‘, nonbank financial com24 pany,’’; 

25 (8) in section 120 (12 U.S.C. 5330)— 


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1 (A) in subsection (a)— 

2 (i) by striking ‘‘or nonbank financial 

3 companies’’; and 

4 (ii) by striking ‘‘and nonbank finan5 cial companies’’; and 

6 (B) in subsection (d)— 

7 (i) in paragraph (1), by adding ‘‘and’’ 

8 at the end; 

9 (ii) in paragraph (2), by striking ‘‘; 

10 and’’ and inserting a period; and 

11 (iii) by striking paragraph (3); 

12 (9) in section 121 (12 U.S.C. 5331)— 

13 (A) in subsection (a), by striking ‘‘, or a 

14 nonbank financial company supervised by the 

15 Board of Governors,’’; 

16 (B) in subsection (c), by inserting ‘‘(as in 

17 effect on the day before the date of the enact18 ment of the Terminating the Expansion of Too19 Big-To-Fail Act of 2015)’’ after ‘‘section 113’’; 

20 and 

21 (C) in subsection (d)— 

22 (i) in the heading, by striking ‘‘FOR23 EIGN FINANCIAL COMPANIES’’ and insert24 ing ‘‘FOREIGN-BASED BANK HOLDING

25 COMPANIES’’; 


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1 (ii) in the matter preceding paragraph 

2 (1), by striking ‘‘foreign nonbank financial 

3 companies supervised by the Board of Gov4 ernors and’’; and 

5 (iii) by striking paragraph (2) and in6 serting the following: 

7 ‘‘(2) taking into account the extent to which the 

8 foreign-based bank holding company is subject on a 

9 consolidated basis to home country standards that 

10 are comparable to those applied to bank holding 

11 companies in the United States.’’; 

12 (10) in the heading for subtitle C, by striking 

13 ‘‘Certain Nonbank Financial Companies 

14 and’’; 

15 (11) in section 155(d) (12 U.S.C. 5345(d)), by 

16 striking ‘‘and nonbank financial companies super17 vised by the Board of Governors’’; 

18 (12) in section 163 (12 U.S.C. 5363)— 

19 (A) by striking subsection (a); 

20 (B) by redesignating subsection (b) as sub21 section (a); and 

22 (C) in subsection (a), as so redesignated, 

23 by striking ‘‘or a nonbank financial company 

24 supervised by the Board of Governors’’ each 

25 place the term appears; 


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1 (13) in section 165 (12 U.S.C. 5365)— 

2 (A) in the section heading, by striking 

3 ‘‘NONBANK FINANCIAL COMPANIES SUPER4 VISED BY THE BOARD OF GOVERNORS

5 AND’’; 

6 (B) in subsection (a)(1)— 

7 (i) by striking ‘‘nonbank financial 

8 companies supervised by the Board of Gov9 ernors and’’; and 

10 (ii) in subparagraph (A), by striking 

11 ‘‘nonbank financial companies and’’; 

12 (C) in subsection (b)— 

13 (i) in paragraph (1), by striking 

14 ‘‘nonbank financial companies supervised 

15 by the Board of Governors and’’ each place 

16 the term appears; 

17 (ii) in paragraph (2)— 

18 (I) in the paragraph heading, by 

19 striking ‘‘FOREIGN FINANCIAL COMPA20 NIES’’ and inserting ‘‘FOREIGN-BASED

21 BANK HOLDING COMPANIES’’; 

22 (II) by striking ‘‘foreign nonbank 

23 financial company supervised by the 

24 Board of Governors or’’; and 

25 (III) in subparagraph (B)— 


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1 (aa) by striking ‘‘foreign fi2 nancial company’’ and inserting 

3 ‘‘foreign-based bank holding com4 pany’’; and 

5 (bb) by striking ‘‘financial 

6 companies’’ and inserting ‘‘bank 

7 holding companies’’; 

8 (iii) in paragraph (3)— 

9 (I) by inserting ‘‘(as in effect on 

10 the day before the date of the enact11 ment of the Terminating the Expan12 sion of Too-Big-To-Fail Act of 2015)’’ 

13 after ‘‘section 113’’ each place the 

14 term appears; and 

15 (II) in subparagraph (A), by 

16 striking ‘‘nonbank financial companies 

17 supervised by the Board of Governors 

18 and’’; and 

19 (iv) in paragraph (4), by striking ‘‘a 

20 nonbank financial company supervised by 

21 the Board of Governors or’’; 

22 (D) in subsection (c)— 

23 (i) in paragraph (1)— 


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1 (I) by striking ‘‘nonbank finan2 cial company supervised by the Board 

3 of Governors and’’; and 

4 (II) by striking ‘‘bank holding 

5 companies’’ and inserting ‘‘bank hold6 ing company’’; and 

7 (ii) in paragraph (2)(D), by striking 

8 ‘‘nonbank financial company supervised by 

9 the Board of Governors or a’’; 

10 (E) in subsection (d)— 

11 (i) by striking ‘‘nonbank financial 

12 company supervised by the Board of Gov13 ernors and’’ each place the term appears; 

14 (ii) in paragraph (1), by striking 

15 ‘‘bank holding companies’’ and inserting 

16 ‘‘bank holding company’’; 

17 (iii) in paragraph (2)— 

18 (I) by striking ‘‘significant 

19 nonbank financial companies and’’ 

20 each place the term appears; and 

21 (II) by striking ‘‘bank holding 

22 companies’’ and inserting ‘‘bank hold23 ing company’’; 


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1 (iv) in paragraph (4), by striking ‘‘a 

2 nonbank financial company supervised by 

3 the Board of Governors or’’; 

4 (v) in paragraph (5), by striking ‘‘a 

5 nonbank financial company supervised by 

6 the Board of Governors or’’ each place the 

7 term appears; and 

8 (vi) in paragraph (6), by striking ‘‘the 

9 nonbank financial company supervised by 

10 the Board, any bank holding company, or 

11 any subsidiary or affiliate of the foregoing’’ 

12 and inserting ‘‘any bank holding company 

13 or any subsidiary or affiliate of the bank 

14 holding company’’; 

15 (F) in subsection (e)— 

16 (i) in paragraph (1), by striking ‘‘a 

17 nonbank financial company supervised by 

18 the Board of Governors or’’; 

19 (ii) in paragraph (2), by striking 

20 ‘‘nonbank financial company supervised by 

21 the Board of Governors and’’; 

22 (iii) in paragraph (3), by striking ‘‘the 

23 nonbank financial company supervised by 

24 the Board of Governors or’’ each place the 

25 term appears; and 


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1 (iv) in paragraph (4), by striking ‘‘a 

2 nonbank financial company supervised by 

3 the Board of Governors or’’; 

4 (G) in subsection (f), by striking ‘‘nonbank 

5 financial companies supervised by the Board of 

6 Governors and’’; 

7 (H) in subsection (g)(1), by striking ‘‘and 

8 any nonbank financial company supervised by 

9 the Board of Governors’’; 

10 (I) in subsection (h)— 

11 (i) by striking paragraph (1); 

12 (ii) by redesignating paragraphs (2) 

13 and (3) as paragraphs (1) and (2), respec14 tively; 

15 (iii) in paragraph (1) (as redesig16 nated), by striking ‘‘paragraph (3)’’ each 

17 place the term appears and inserting 

18 ‘‘paragraph (2)’’; and 

19 (iv) in paragraph (2) (as redesig20 nated), by striking ‘‘nonbank financial 

21 company supervised by the Board of Gov22 ernors or’’ each place the term appears; 

23 (J) in subsection (i)— 

24 (i) in paragraph (1)— 


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1 (I) in subparagraph (A), by strik2 ing ‘‘nonbank financial companies su3 pervised by the Board of Governors 

4 and’’; and 

5 (II) in subparagraph (B), by 

6 striking ‘‘and nonbank financial com7 panies’’; and 

8 (ii) in paragraph (2)(A), by striking 

9 ‘‘nonbank financial company supervised by 

10 the Board of Governors and a’’; 

11 (K) in subsection (j)— 

12 (i) in paragraph (1), by striking ‘‘or a 

13 nonbank financial company supervised by 

14 the Board of Governors’’; and 

15 (ii) in paragraph (2), by inserting 

16 ‘‘(as in effect on the day before the date of 

17 the enactment of the Terminating the Ex18 pansion of Too-Big-To-Fail Act of 2015)’’ 

19 after ‘‘section 113’’; and 

20 (L) in subsection (k)(1), by striking ‘‘or 

21 nonbank financial company supervised by the 

22 Board of Governors’’; 

23 (14) in section 166 (12 U.S.C. 5366), by strik24 ing ‘‘a nonbank financial company supervised by the 


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1 Board of Governors or’’ each place the term ap2 pears; 

3 (15) in section 169 (12 U.S.C. 5369), by strik4 ing ‘‘and nonbank financial companies’’; and 

5 (16) in section 171(b) (12 U.S.C. 5371(b))— 

6 (A) by striking ‘‘, depository institution 

7 holding companies, and nonbank financial com8 panies supervised by the Board of Governors’’ 

9 each place the term appears and inserting ‘‘and 

10 depository institution holding companies’’; 

11 (B) in paragraph (3)— 

12 (i) by striking ‘‘or nonbank financial 

13 companies supervised by the Board of Gov14 ernors’’; and 

15 (ii) by striking ‘‘or the primary finan16 cial regulatory agency in the case of 

17 nonbank financial companies supervised by 

18 the Board of Governors’’; and 

19 (C) in paragraph (4)— 

20 (i) by striking ‘‘or by nonbank finan21 cial companies supervised by the Board of 

22 Governors’’ each place the term appears; 

23 and 

24 (ii) in subparagraph (D), by adding a 

25 period at the end. 


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1 (b) DODD-FRANK WALL STREET REFORM AND CON2 SUMER PROTECTION ACT.—Sections 216 and 217 of the 

3 Dodd-Frank Wall Street Reform and Consumer Protec4 tion Act (Public Law 111–203; 124 Stat. 1519) are re5 pealed. 

6 (c) CONFORMING AMENDMENTS.— 

7 (1) BANK HOLDING COMPANY ACT OF 1956.— 

8 The Bank Holding Company Act of 1956 (12 U.S.C. 

9 1841 et seq.) is amended— 

10 (A) in section 13 (12 U.S.C. 1851)— 

11 (i) in subsection (a), by striking para12 graph (2); 

13 (ii) in subsection (b)(2)(B)— 

14 (I) in clause (i)(II), by striking ‘‘, 

15 any nonbank financial company super16 vised by the Board’’; and 

17 (II) in clause (ii), by striking 

18 ‘‘and nonbank financial companies su19 pervised by the Board’’; 

20 (iii) in subsection (c)(2)— 

21 (I) by striking ‘‘or nonbank fi22 nancial company supervised by the 

23 Board’’; and 

24 (II) by striking ‘‘or 2 years after 

25 the date on which the entity or comVerDate Sep 11 2014 02:06 Jan 14, 2015 Jkt 049200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\S107.IS S107

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1 pany becomes a nonbank financial 

2 company supervised by the Board’’; 

3 (iv) in subsection (e)(2), by striking 

4 ‘‘or nonbank financial company supervised 

5 by the Board’’ each place the term ap6 pears; 

7 (v) in subsection (g), by striking ‘‘or 

8 nonbank financial company supervised by 

9 the Board’’ each place the term appears; 

10 and 

11 (vi) in subsection (h)— 

12 (I) by striking paragraph (3); 

13 (II) by redesignating paragraphs 

14 (4) through (7) as paragraphs (3) 

15 through (6), respectively; and 

16 (III) in paragraph (3), as so re17 designated, by striking ‘‘or nonbank 

18 financial company supervised by the 

19 Board’’ each place the term appears; 

20 and 

21 (B) in section 14(a) (12 U.S.C. 

22 1852(a))— 

23 (i) in paragraph (2)— 

24 (I) by striking subparagraph (E); 

25 and 


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1 (II) by redesignating subpara2 graph (F) as subparagraph (E); and 

3 (ii) in paragraph (3)(C), by striking 

4 ‘‘or other nonbank financial company su5 pervised by the Board’’. 

6 (2) DODD-FRANK WALL STREET REFORM AND

7 CONSUMER PROTECTION ACT.—The Dodd-Frank 

8 Wall Street Reform and Consumer Protection Act 

9 (Public Law 111–203) is amended— 

10 (A) in the table of contents in section 

11 1(b)— 

12 (i) by striking the items relating to 

13 sections 113, 114, 161, 162, 164, 167, 

14 170, 216, and 217; 

15 (ii) in the item relating to section 

16 115, by striking ‘‘nonbank financial com17 panies supervised by the Board of Gov18 ernors and’’; 

19 (iii) in the item relating to subtitle C 

20 of title I, by striking ‘‘certain nonbank fi21 nancial companies and’’; and 

22 (iv) in the item relating to section 

23 165, by striking ‘‘nonbank financial com24 panies supervised by the Board of Gov25 ernors and’’; 


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1 (B) in section 201(a) (12 U.S.C. 

2 5381(a))— 

3 (i) in paragraph (11)(B)— 

4 (I) by striking clause (ii); and 

5 (II) by redesignating clauses (iii) 

6 and (iv) as clauses (ii) and (iii), re7 spectively; 

8 (ii) by striking paragraphs (14) and 

9 (15); and 

10 (iii) by redesignating paragraph (16) 

11 as paragraph (14); 

12 (C) in section 210(o)(1)(A) (12 U.S.C. 

13 5390(o)(1)(A)), by striking ‘‘and any nonbank 

14 financial company supervised by the Board of 

15 Governors’’; 

16 (D) in section 618(a)(4)(B) (12 U.S.C. 

17 1850a(a)(4)(B))— 

18 (i) by striking clause (i); and 

19 (ii) by redesignating clauses (ii) 

20 through (vi) as clauses (i) through (v), re21 spectively; 

22 (E) in section 716(i)(1) (15 U.S.C. 

23 8305(i)(1))— 

24 (i) by striking subparagraph (B); 


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1 (ii) by redesignating subparagraph 

2 (C) as subparagraph (B); and 

3 (iii) in subparagraph (B), as so redes4 ignated— 

5 (I) in the heading, by striking ‘‘, 

6 NON-SYSTEMICALLY SIGNIFICANT IN7 STITUTIONS NOT SUBJECT TO

8 HEIGHTENED PRUDENTIAL SUPER9 VISION AS REGULATED UNDER SEC10 TION 113’’ and inserting ‘‘SWAPS EN11 TITIES’’; and 

12 (II) by striking ‘‘, non-system13 ically significant institutions not sub14 ject to heightened prudential super15 vision as regulated under section 

16 113’’; 

17 (F) in section 726(a) (15 U.S.C. 8323(a)), 

18 by striking ‘‘a nonbank financial company (as 

19 defined in section 102) supervised by the 

20 Board, an affiliate of such a bank holding com21 pany or nonbank financial company,’’ and in22 serting ‘‘an affiliate of such a bank holding 

23 company,’’; and 

24 (G) in section 765(a) (15 U.S.C. 8343(a)), 

25 by striking ‘‘a nonbank financial company (as 


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1 defined in section 102) supervised by the Board 

2 of Governors of the Federal Reserve System, af3 filiate of such a bank holding company or 

4 nonbank financial company,’’ and inserting ‘‘af5 filiate of such a bank holding company,’’. 

6 (3) FEDERAL DEPOSIT INSURANCE ACT.—Sec7 tion 10(b)(3) of the Federal Deposit Insurance Act 

8 (12 U.S.C. 1820(b)(3)) is amended— 

9 (A) in subparagraph (A)— 

10 (i) by striking ‘‘or nonbank financial 

11 company supervised by the Board of Gov12 ernors’’; and 

13 (ii) by striking ‘‘or of such nonbank 

14 financial company supervised by the Board 

15 of Governors’’; and 

16 (B) in subparagraph (B), by striking ‘‘a 

17 nonbank financial company supervised by the 

18 Board of Governors or’’. 

19 (4) FEDERAL RESERVE ACT.—Section 11 of the 

20 Federal Reserve Act (12 U.S.C. 248) is amended— 

21 (A) by redesignating the second subsection 

22 (s), as added by section 318(c) of the Enhanc23 ing Financial Institution Safety and Soundness 

24 Act of 2010 (124 Stat. 1527), as subsection (t); 

25 and 


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1 (B) in paragraph (2) of subsection (t) (as 

2 redesignated)— 

3 (i) in subparagraph (A), by striking 

4 the semicolon and inserting ‘‘; and’’; 

5 (ii) in subparagraph (B), by striking 

6 ‘‘; and’’ and inserting a period; and 

7 (iii) by striking subparagraph (C). 

8 (5) TITLE 31.—Section 313(c)(1) of title 31, 

9 United States Code, is amended— 

10 (A) by striking subparagraph (C); and 

11 (B) by redesignating subparagraphs (D) 

12 through (H) as subparagraphs (C) through (G), 

13 respectively. 

14 SEC. 3. REPEAL OF THE PAYMENT, CLEARING, AND SETTLE15 MENT SUPERVISION ACT OF 2010. 

16 (a) IN GENERAL.—The Payment, Clearing, and Set17 tlement Supervision Act of 2010 (12 U.S.C. 5461 et seq.) 

18 is repealed. 

19 (b) TECHNICAL AND CONFORMING AMENDMENT.— 

20 The table of contents in section 1(b) of the Dodd-Frank 

21 Wall Street Reform and Consumer Protection Act (Public 

22 Law 111–203) is amended by striking— 

23 (1) the item relating to title VIII; and 


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1 (2) the items relating to sections 801 through 

2 814. 

Æ 


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